Gold bullion 'retaining appeal' in uncertain times
Gold bullion is retaining its appeal as an excellent investment opportunity following support created by a Federal Reserve statement yesterday (June 26th).
The organization made the decision to leave interest rates unchanged, which prompted many people looking for a gold investment opportunity to begin buying again, Forbes reports.
"Uncertainty about the inflation outlook remains high," said the Federal statement, which could prove to be supportive for gold prices.
James Steel, precious metals analyst at HSBC, said that prices could rise in the coming months as people seek to use it as a hedge against uncertainty.
"Given gold's sensitivity to inflation, we believe the statement is bullish for gold prices," he commented.
HSBC is one of the largest banking and financial services organizations in the world, with over 10,000 offices in 83 countries.
It has been widely speculated that gold may again rise above the $1,000 an ounce mark, which it last reached in March this year.
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